The lack of skilled construction workers, more expensive raw materials and energy will force up construction prices in 2007. At the same time the price of property in Bulgaria is not expected to climb at such a high rate because of increased supply. Property in Bulgaria will also have to meet European quality requirements, the report said. These demands would also bring up construction prices, Bulgarian property analysts report.The expected increase could vary between three and five per cent, the National Construction Federation said. Apart from the higher standards, EU entry would enable Bulgarian workers to find employment in other countries. The country already experiences labour shortages. To keep their employees, construction firms will have to offer higher wages. According to construction sector representatives wages would increase until they reached European levels.
Source: Sofia Echo